Responsible Investment at Harvard is a group of students, alumni, faculty, staff, and other community members who are dedicated to changing the way that Harvard manages its money. We are concerned about the dangerous disconnect between the principles that guide Harvard’s socially beneficial education and research and those that inform the investment strategies of the Harvard Management Company. We are calling on Harvard to manage and invest its endowment more responsibly.
For the first time ever, Harvard University’s and Harvard Management Company’s tax filings are available in searchable form in the “Resources” section of our website.
We’ve just posted Harvard University’s latest tax return (FY 2012, IRS Form 990) there – with highlights below. Find something else noteworthy? Please let us know!
Spotlight on Harvard’s Finances for Tax Year 2011-2012:
- Confirmed 100% ownership of Agricola Brinzal, a forestry company facing multiple lawsuits filed by the Chilean government for illegal logging and violating forest management plans.
- Confirmed 100% ownership of Agricola Duramen, LTDA, a forestry company fined by the Chilean government for violating environmental protection laws.
- Reveals a large Cayman Islands presence, including a 70% stake ($177 million) in Round Table Asset Recovery Master Fund – a Cayman Island-based hedge fund founded in 2007 by Ian Banwell, former CIO for Bank of America.
- From 2008 to 2009, the endowment plummeted from $35.9 billion to $25.3 billion – a $10.5 billion loss in a single year.
- Fundraising power: The University receives $200 – $300 million per year in contributions.
- In addition to HMC, Harvard employs the following tax-exempt investment management groups: Blue Marble Holdings, Demeter Holdings, Phemus, and Shipping Venture Corp.C
- Harvard, Be a Responsible Owner!
- Students Press President Faust on Chilean Investments
- Featured in Unsectored: “Aligning Money with Your Values, When You Don’t Have Any Money”
- Letter to President Faust on Chilean Investment Scandal
- Media Advisory: Harvard Students Demand Answers in Ongoing Chilean Investment Scandal
- Summary of April 30 event at Harvard Club of San Francisco
- Press Release: Harvard-Owned Company Sued for Illegal Logging – Students Want Answers
- PRESS RELEASE: HARVARD STUDENTS AND ALUMNI INVEST SOCIALLY RESPONSIBLE FUND
- Join us in San Francisco on April 30